Stephen Mandel - Lone Pine Capital
As of Q2 2026, Stephen Mandel reported 34 long-equity positions worth $16.36B in aggregate.
Copy-investor backtest
- Latest quarter
- +5.33%
- 1-year
- +0.67%
- 3-year
- +86.37%
- 5-year
- +38.17%
- 3-year vs S&P 500
- +13.12%
- 5-year vs S&P 500
- -50.29%
- 5-year top 5
- +42.20%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
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Live quotes available for 28 of 53 rows. Rows without a quote are marked unavailable.
| 1 | BABA | ALIBABA GROUP HLDG LTD | 7.50% | Add +1.6% | 6,336,587 | $1.23B | $194.48 | |
| 2 | UNH | UNITEDHEALTH GROUP INC | 7.00% | Add +8.7% | 4,613,971 | $1.15B | $249.38 | |
| 3 | AMZN | AMAZON COM INC | 6.92% | Add +13.1% | 582,971 | $1.14B | $1949.72 | |
| 4 | MSFT | MICROSOFT CORP | 5.68% | Add +16.9% | 5,923,926 | $934.26M | $157.71 | |
| 5 | NFLX | NETFLIX INC | 5.51% | Reduce -3.3% | 2,411,338 | $905.46M | $375.50 | |
| 6 | ADBE | ADOBE INC | 5.14% | Reduce -6.8% | 2,653,450 | $844.43M | $318.24 | |
| 7 | GPN | GLOBAL PMTS INC | 4.35% | Add +52.7% | 4,954,572 | $714.6M | $144.23 | |
| 8 | SHOP | SHOPIFY INC | 4.24% | Reduce -7.9% | 1,670,133 | $696.33M | $416.93 | |
| 9 | HUM | HUMANA INC | 4.13% | Add +46.9% | 2,164,071 | $679.56M | $314.02 | |
| 10 | ADSK | AUTODESK INC | 3.82% | Add +22.4% | 4,023,409 | $628.05M | $156.10 | |
| 11 | META | FACEBOOK INC | 3.58% | Add +3.1% | 3,532,011 | $589.14M | $166.80 | |
| 12 | MA | MASTERCARD INC | 3.40% | Reduce -3.1% | 2,311,471 | $558.36M | $241.56 | |
| 13 | V | VISA INC | 3.26% | New | 3,329,975 | $536.53M | $161.12 | |
| 14 | PYPL | PAYPAL HLDGS INC | 3.07% | Add +56.5% | 5,265,480 | $504.12M | $95.74 | |
| 15 | CP | CANADIAN PAC RY LTD | 3.04% | Add +21.9% | 2,279,058 | $500.46M | $219.59 | |
| 16 | MTCH | MATCH GROUP INC | 2.75% | Add +125.4% | 6,845,734 | $452.09M | $66.04 | |
| 17 | NOW | SERVICENOW INC | 2.39% | Reduce -11.3% | 1,368,688 | $392.24M | $286.58 | |
| 18 | EFX | EQUIFAX INC | 2.31% | Reduce -8.0% | 3,171,575 | $378.85M | $119.45 | |
| 19 | LKNCY | LUCKIN COFFEE INC | 2.24% | Add +122.9% | 13,522,973 | $367.69M | No quote | No quote |
| 20 | SQ | SQUARE INC | 2.13% | Reduce -23.9% | 6,698,049 | $350.84M | No quote | No quote |
| 21 | ARNC | ARCONIC INC | 2.02% | New | 20,660,173 | $331.8M | No quote | No quote |
| 22 | LB | L BRANDS INC | 1.85% | New | 26,265,094 | $303.62M | No quote | No quote |
| 23 | COUP | COUPA SOFTWARE INC | 1.81% | Reduce -9.1% | 2,124,340 | $296.83M | No quote | No quote |
| 24 | CVNA | CARVANA CO | 1.71% | Add +408.5% | 5,100,175 | $280.97M | $55.09 | |
| 25 | TDG | TRANSDIGM GROUP INC | 1.51% | Reduce -38.1% | 775,953 | $248.45M | $320.19 | |
| 26 | HLT | HILTON WORLDWIDE HLDGS INC | 1.23% | New | 2,952,652 | $201.49M | $68.24 | |
| 27 | TEAM | ATLASSIAN CORP PLC | 1.16% | Reduce -50.4% | 1,388,586 | $190.6M | No quote | No quote |
| 28 | CDAY | CERIDIAN HCM HLDG INC | 0.99% | New | 3,244,680 | $162.46M | No quote | No quote |
| 29 | UAA | UNDER ARMOUR INC | 0.98% | Add +94.1% | 17,431,613 | $160.55M | $9.21 | |
| 30 | IAC | IAC INTERACTIVECORP | 0.89% | Add +104.2% | 812,017 | $145.54M | $179.23 | No quote |
| 31 | LYV | LIVE NATION ENTERTAINMENT IN | 0.84% | New | 3,046,095 | $138.48M | $45.46 | |
| 32 | HUBS | HUBSPOT INC | 0.63% | Add +244.1% | 776,490 | $103.42M | No quote | No quote |
| 33 | CDNS | CADENCE DESIGN SYSTEM INC | 0.52% | New | 1,288,594 | $85.1M | $66.04 | |
| 34 | UA | UNDER ARMOUR INC | 0.48% | New | 9,890,481 | $79.72M | $8.06 | |
| 35 | PLAN | ANAPLAN INC | 0.41% | New | 2,200,000 | $66.57M | No quote | No quote |
| 36 | CHWY | CHEWY INC | 0.30% | Reduce -74.4% | 1,299,749 | $48.73M | $37.49 | |
| 37 | MDLA | MEDALLIA INC | 0.23% | Add +151.3% | 1,853,183 | $37.14M | No quote | No quote |
| 38 | SE | SEA LTD | 0.01% | Reduce -99.6% | 27,000 | $1.2M | $44.30 | |
| 50 | XP | XP INC | - | Sold | 0 | $0 | No quote | No quote |
| 49 | UNP | UNION PACIFIC CORP | - | Sold | 0 | $0 | No quote | No quote |
| 48 | UBER | UBER TECHNOLOGIES INC | - | Sold | 0 | $0 | No quote | No quote |
| 47 | CRM | SALESFORCE COM INC | - | Sold | 0 | $0 | No quote | No quote |
| 46 | MELI | MERCADOLIBRE INC | - | Sold | 0 | $0 | No quote | No quote |
| 45 | IQV | IQVIA HLDGS INC | - | Sold | 0 | $0 | No quote | No quote |
| 44 | ILMN | ILLUMINA INC | - | Sold | 0 | $0 | No quote | No quote |
| 43 | HLF | HERBALIFE NUTRITION LTD | - | Sold | 0 | $0 | No quote | No quote |
| 42 | DPZ | DOMINOS PIZZA INC | - | Sold | 0 | $0 | No quote | No quote |
| 41 | DXCM | DEXCOM INC | - | Sold | 0 | $0 | No quote | No quote |
| 40 | CSX | CSX CORP | - | Sold | 0 | $0 | No quote | No quote |
| 39 | MO | ALTRIA GROUP INC | - | Sold | 0 | $0 | No quote | No quote |
Options positions
Put = right to sell at strike (a bearish bet). Call = right to buy at strike (bullish via leverage). The notional column shows the underlying market value reported to the SEC, not the option premium paid - these don't add to the long-equity % portfolio above.